Key Takeaways
- Microsoft Corp. CEO Satya Nadella said Tuesday that he’s “optimistic” about the future of artificial intelligence (AI) as private companies implement safety measures and global leaders develop broader standards and regulations.
- Nadella spoke with the World Economic Forum’s (WEF) founder and chair at the WEF’s annual meeting in Davos, where AI’s impact on society and the economy was central.
- Nadella said that safety measures taken by private companies as well as global standards and regulations are “the way forward” for AI amid safety concerns.
Microsoft Corp. (MSFT) Chief Executive Officer (CEO) Satya Nadella said at the World Economic Forum’s (WEF’s) annual meeting in Davos Tuesday that he’s “optimistic” about the future of artificial intelligence (AI) as private companies implement safety measures and global leaders develop related standards and regulations amid safety concerns.
A key theme of this year’s meeting was “Artificial Intelligence as a Driving Force for the Economy and Society” as nearly 40% of global employment is exposed to AI. For advanced economies, that figure jumps to as high as 60%, according to a recent International Monetary Fund (IMF) report.
Nadella said in a discussion with the WEF’s founder and chair, Klaus Schwab, that he anticipates AI-driven innovation to scale across countries and industries in 2024, adding that “science is probably the place where we will start seeing real acceleration,” as the technology could be used to supercharge research.
However, as the emerging technology’s capabilities expand, concerns about AI-related risks have also grown, with global leaders ranking AI-fueled misinformation and disinformation as a top short-term concern with many elections set to take place in 2024.
Nadella said that “the biggest lesson learned perhaps for [the digital technology industry] is that we have to take the unintended consequences of any new technology along with all the benefits and think about them simultaneously as opposed to waiting for the unintended consequences to show up and then address them.”
He added that he feels “optimistic” about the industry “stepping it up,” and implementing safety standards when creating AI tools and applications.
Nadella said he believes “the way forward” as the tech continues to evolve is a “combination of private innovation with a safety-first approach to engineering,” alongside “regulation that allows us to ensure that the broad societal benefits are amplified and the unintended consequences are dampened.”
Microsoft shares were about half a percent higher at $388.72 a share in late afternoon trading Tuesday after the company announced an expansion of its Copilot features and a $1.5 billion partnership with Vodafone. Shares of the “Magnificent Seven” stock have gained more than 62% over the past year.